PLAN 203 - The Markets
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PLAN 203 - The Markets

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@CherishedSilver

Questions and Answers

What do cities facilitate?

  • Marine transportation
  • Agricultural activities
  • Human interaction of people and firms (correct)
  • Space exploration
  • What do cities facilitate?

  • Marine transportation
  • Agricultural activities
  • Human interaction of people and firms (correct)
  • Space exploration
  • What does transport facilitate?

  • Interaction between parties separated in time
  • Interaction between parties separated by culture
  • Interaction between parties separated by language
  • Interaction between parties separated in space (correct)
  • What does transport facilitate?

    <p>Interaction between parties separated in space</p> Signup and view all the answers

    What facilitates formal networks of transportation?

    <p>Communication</p> Signup and view all the answers

    What facilitates formal networks of transportation?

    <p>Communication</p> Signup and view all the answers

    What plays a large influence in transportation behavior?

    <p>Social networks</p> Signup and view all the answers

    What plays a large influence in transportation behavior?

    <p>Social networks</p> Signup and view all the answers

    Who benefits from economies of agglomeration?

    <p>Co-locating competitors, customers, and suppliers</p> Signup and view all the answers

    Who benefits from economies of agglomeration?

    <p>Co-locating competitors, customers, and suppliers</p> Signup and view all the answers

    What is Alfred Weber's theory of industrial location largely driven by?

    <p>Transport costs</p> Signup and view all the answers

    What is Alfred Weber's theory of industrial location largely driven by?

    <p>Transport costs</p> Signup and view all the answers

    What does the Spatial Mismatch Hypothesis suggest?

    <p>Misaligned job types and housing costs lead to shorter distances traveled</p> Signup and view all the answers

    What does the Spatial Mismatch Hypothesis suggest?

    <p>Misaligned job types and housing costs lead to shorter distances traveled</p> Signup and view all the answers

    What is the key link between consumer surplus and accessibility?

    <p>Land value</p> Signup and view all the answers

    What is the key link between consumer surplus and accessibility?

    <p>Land value</p> Signup and view all the answers

    What is induced demand a key part of?

    <p>The &quot;you can't build your way out of congestion&quot; argument</p> Signup and view all the answers

    What is induced demand a key part of?

    <p>The &quot;you can't build your way out of congestion&quot; argument</p> Signup and view all the answers

    What do cost perceptions ignore?

    <p>Externalities</p> Signup and view all the answers

    What do cost perceptions ignore?

    <p>Externalities</p> Signup and view all the answers

    Study Notes

    1. Cities concentrate activity and facilitate human interaction of people and firms.
    2. Transport facilitates interaction between parties separated in space.
    3. Formal networks of transportation are facilitated by communication.
    4. Social networks play a large influence in transportation behavior.
    5. Economies of agglomeration benefit co-locating competitors, customers, and suppliers.
    6. Alfred Weber's theory of industrial location is largely driven by transport costs.
    7. Spatial Mismatch Hypothesis suggests misaligned job types and housing costs lead to greater distances traveled.
    8. Key link between consumer surplus and accessibility is represented in land value.
    9. Induced demand is a key part of the "you can't build your way out of congestion" argument.
    10. Cost perceptions ignore externalities, which have real impacts on social costs.

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